The ABI Journal article “On the Edge,”...
As published in the Los Angeles Daily Journal: Default rate interest provisions are standard language in business loan agreements. Default interest constitutes an additional amount to be paid upon default and is viewed, under California law, as a liquidated damages provision. See Cal. Bank Trust v. Shilo Inn, 2012 U.S. Dist. LEXIS 163134, *7 (D. Ore. 2012). Whether an amount to be paid upon …